Aberdeen’s multi-manager team has doubled the cash weighting across its £750m fund range.
The weightings have risen from 2 to 3 per cent to between 5 and 7 per cent across the 12 onshore funds, with the firm pointing to a number of potential market headwinds.
Multi-manager Rob Bowie says: “There are a few concerns like the oil price, the withdrawal of QE2, European debt issues and Chinese and emerging market inflationary pressures. Those concerns have seen us raise our positions to counteract that market sentiment.”
Jupiter has also increased the cash weighting across the majority of its Merlin fund of funds range by almost 2 per cent.
The weightings now range from 10.4 per cent on the £1.5bn growth portfolio to 15.4 per cent on the income portfolio.
It says it has allowed these positions to build slowly to take advantage of any market uncertainty in the next few months.